{"id":73739,"date":"2024-03-26T18:40:45","date_gmt":"2024-03-26T10:40:45","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=73739"},"modified":"2024-03-26T18:40:45","modified_gmt":"2024-03-26T10:40:45","slug":"february-2024-condo-resale-market","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/february-2024-condo-resale-market\/","title":{"rendered":"Condo sales hold steady in February despite CNY; prices on the rise"},"content":{"rendered":"
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CCR and OCR prices increase by 0.2% and 0.1% while RCR prices remain the same in February 2024<\/span><\/h2>\n

In February 2024, the SRX Price Index for Condo Resale indicated a 0.2% increase in prices for the Core Central Region (CCR)<\/a> and a 0.1% increase in prices for the Outside Central Region (OCR), whereas the Rest of Central Region (RCR)<\/a> prices remained the same. As a result, there was an overall 0.2% increase in prices from January 2024.<\/span><\/p>\n

You can do a quick revision of January 2024’s condo resale market flash report findings here.<\/strong><\/em><\/a><\/p>\n

On a year-on-year basis, overall prices increased by 6.1% from February 2023. All regions saw price increases: CCR by 2.8%, RCR by 6.1%, and OCR by 7.6%.<\/span><\/p>\n

Additional reading: <\/strong>Singapore\u2019s 28 districts mapped across Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR)<\/a><\/em><\/p>\n

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An estimated 760 units were resold in February 2024, a 1.2% increase from the 751 units resold in January 2024<\/span><\/h2>\n

Around 760 units of resale condominiums were sold, which is a 1.2% increase from the previous month’s 751 units. This volume marks a 0.9% rise from February 2023 and is 5.0% higher than the average resale rate over the past five years for the same month. This trend indicates a positive movement in the resale market.<\/span><\/p>\n

The sales distribution for the month was: OCR – 43.8%, RCR – 35.6%, and CCR – 20.5%.<\/span><\/p>\n

Sub Sale transactions, which represent sales of units in projects that have not yet been completed, accounted for 11.1% of the total secondary market transactions (including both resale and Sub Sale).\u00a0<\/span><\/p>\n

\"february<\/a><\/p>\n

This figure shows a 1.2% decrease from January 2024, signifying a shift in resale and sub-sale market dynamics.<\/span><\/p>\n

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The highest transacted price for a resale unit in February is achieved at S$12,900,000 at Ardmore Park<\/a><\/span><\/h2>\n
\"the<\/a>
Wide shot of The Interlace. Image credit: Hongbin on Unsplash.<\/figcaption><\/figure>\n

In the Rest of Central Region (RCR), The Interlace<\/a> had the highest transacted price of S$5,315,000 for a resale unit in recent real estate transactions.<\/span><\/p>\n

More properties at The Interlace<\/h4>\n
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